Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery: 10.30.2014
    Veteran finance writer Jonathan Chevreau discusses investing in Canada and why the word “retirement” needs to be retired.
  • MarketFoolery 10.29.2014
    Fool Australia analyst Matt Joass discusses the investing landscape in Australia, “ghost cities” in China, and how American brands are viewed Down Under.
  • MarketFoolery: 10.28.2014
    The price of oil is dropping.  We analyze the best opportunities in oil stocks right now, plus the latest results from Twitter and Buffalo Wild Wings.  
Capital Business
Posted at 05:50 PM ET, 09/27/2012

Umba Box, D.C.-based gift company, teams up with Facebook


Lauren Thorp, Founder and chief executive of Umba Box. (Jeffrey MacMillan - Capital Business)
Umba Box, as Washington-based subscription service that specializes in handmade gifts, announced today that it is partnering with Facebook to allow users to buy physical gifts directly from the social networking Web site.

The items will be sold through Facebook’s new Gifts feature, which the social media giant showed off this afternoon. One hundred vendors, ranging from gourmet food companies to baby goods retailers, have teamed up for the program.

“It’s very exciting,” said Lauren Thorp, who founded Umba Box in October 2011. “We started talking [with Facebook] at the end of July. It’s all moved very fast.”

Facebook users can buy gifts by clicking a link on friends’ profiles or by going to the birthdays section of their news feed. Once users choose and pay for a present, their friend is notified of the purchase and the item is shipped.

Thorp said she expects the company’s revenue to increase from $30,000 per month to $2 million per month as a result. Umba Box currently has 1,000 subscribers a month — a figure that she said could grow 10-fold in a matter of days, Thorp said.

The company’s subscription-based model allows customers to order monthly packages for a flat rate of $25. Thorp includes two or three handmade gift items, ranging from notebooks to jewelry, in every shipment.

By  |  05:50 PM ET, 09/27/2012

 
Read what others are saying
     

    © 2011 The Washington Post Company